Sam Bankman-Fried, often referred to as SBF, is facing one of the most significant legal battles in the crypto industry. SBF was a renowned figure in the crypto industry, leading the celebrity-endorsed cryptocurrency exchange FTX. However, the U.S. government has charged SBF with seven primary charges, including wire fraud, conspiracy to commit wire fraud, conspiracy […]
Crypto hacking incidents jumped 153% in the third quarter of 2022 compared to the same period last year, with 76 incidents reported in Q3 and losses from hacks and fraud rising to more than $685 million. The two biggest exploits, a $200 million hack of Mixin Network and a $126 million hack of Multichain, accounted […]
A class-action lawsuit against Terraform Labs and its co-founder Do Kwon over fraud allegations has been dropped. The notice of voluntary dismissal was filed on Sept. 28 in the United States District Court for the Northern District of California, and did not state the reasons for dropping the case without prejudice. The court had not […]
September was a record-breaking month for malicious entities stealing funds in the crypto market. According to CertIK, approximately $332 million in digital assets were lost to exploits, hacks, and scams. Exit scams accounted for $1.9 million, flash loans for $0.4 million, and crypto-related exploits for $329.8 million. The largest portion of this month’s losses was […]
The Securities and Exchange Commission (SEC) has delayed its decision on the listing of spot Bitcoin and Ether exchange-traded funds (ETFs). The SEC delayed making decisions until Dec. 25 and Jan. 10, respectively, for spot Ether ETFs from VanEck and ARK 21Shares, while GlobalX will have to wait until Nov. 21 for the commission’s decision. […]
The trial of Sam Bankman-Fried, the founder of crypto exchange FTX, is set to begin this week. Caroline Ellison, his former girlfriend and head of Alameda Research, is expected to testify against him. SBF is accused of attempting to pay Donald Trump to not run for reelection in 2020. Ellison has pleaded guilty to seven […]
A new report from Binance Research has revealed that oracle-related exploits have caused nearly a billion dollars worth of losses over the past three years. Oracles are used to connect blockchains to external data, allowing smart contracts to execute tasks based on real-world events or conditions. This is especially important for decentralized finance (DeFi) protocols, […]
The United States Securities and Exchange Commission (SEC) has taken legal action against Prager Metis, the auditor of the now-bankrupt cryptocurrency exchange FTX. The SEC has accused Prager Metis of failing to maintain the required independence while providing auditing services to its clients, breaching federal securities laws. This includes adding indemnification provisions to engagement letters […]
The third quarter of 2023 has been the most financially damaging quarter of the year, according to the quarterly report of blockchain security firm CertiK. A total of 184 security incidents occurred in July, August and September, resulting in a loss of over $699 million in crypto assets. Private key compromises were the most damaging, […]
Craig Wright, the self-proclaimed inventor of Bitcoin, may soon be facing the end of his legal disputes. After Christen Ager-Hanssen left nChain Group on Saturday, a leaked email suggests that Calvin Ayre, another once-strong supporter and financier, is also distancing himself from Wright. Ager-Hanssen’s statements not only shed light on the internal dynamics and discord […]
